IFP Advisors Inc boosted its stake in shares of Albemarle Co. (NYSE:ALB) by 84.5% in the third quarter, HoldingsChannel.com reports. The firm owned 11,786 shares of the specialty chemicals company’s stock after purchasing an additional 5,399 shares during the quarter. IFP Advisors Inc’s holdings in Albemarle were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Credit Agricole S A bought a new stake in shares of Albemarle in the second quarter valued at about $123,000. SeaCrest Wealth Management LLC boosted its position in shares of Albemarle by 145.9% in the second quarter. SeaCrest Wealth Management LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $160,000 after acquiring an additional 1,004 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Albemarle in the second quarter valued at about $212,000. Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of Albemarle in the third quarter valued at about $215,000. Finally, Moloney Securities Asset Management LLC bought a new stake in shares of Albemarle in the third quarter valued at about $237,000. 90.89% of the stock is owned by institutional investors.
ALB stock opened at $99.22 on Thursday. The stock has a market capitalization of $10.53 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.27 and a beta of 1.69. Albemarle Co. has a 52 week low of $86.75 and a 52 week high of $144.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.19 and a quick ratio of 1.55.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.35%. Albemarle’s payout ratio is 29.19%.
A number of brokerages have recently issued reports on ALB. ValuEngine raised shares of Albemarle from a “sell” rating to a “hold” rating in a research report on Thursday. Loop Capital set a $130.00 target price on shares of Albemarle and gave the company a “buy” rating in a research report on Friday, October 19th. Vertical Research began coverage on shares of Albemarle in a research report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price for the company. Vertical Group began coverage on shares of Albemarle in a research report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price for the company. Finally, SunTrust Banks raised shares of Albemarle from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $115.00 in a research report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Albemarle currently has an average rating of “Buy” and an average target price of $124.55.
In other Albemarle news, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total transaction of $301,041.00. Following the completion of the transaction, the executive vice president now owns 30,242 shares of the company’s stock, valued at $2,936,800.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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